Victorian Current Acts

SETTLED LAND ACT 1958 - SECT 79

Where capital money arising under this Act or any corresponding previous enactment is purchase-money paid in respect of—

        (a)     a lease for years or life or years determinable on life; or

        (b)     any other estate or interest in land less than the fee-simple; or

        (c)     a reversion dependent on any such lease, estate or interest—

the trustees of the settlement or the Court (as the case may be) and in the case of the Court on the application of any party interested in that money, may, notwithstanding anything in this Act, require and cause the same to be laid out, invested, accumulated and paid in such manner as, in the judgment of the trustees or of the Court (as the case may be) will give to the parties interested in that money the like benefit therefrom as they might lawfully have had from the lease, estate, interest or reversion in respect whereof the money was paid, or as near thereto as may be.

No. 3771 s. 80.